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Reshetnikov warned of the threat of a deflationary spiral in the Russian economy

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Global look press/permkrai.ru
Global look press/permkrai.ru

Russian business needs more affordable loans, I am sure the head of the Ministry of Economic Development Maxim Reshetnikov. His words from the margins of SPIEF are reported by RIA Novosti.

The minister questioned the inflation assessment method used by the Central Bank. He believes that a different approach to monetary policy would be more beneficial for the country.

“We are really sliding into a deflationary spiral, and we need to take this seriously, so we expect that together with the Central Bank we will continue to analyze the situation and the trend that our colleagues have set will last, and as soon as possible, because without a cheap loan we can don’t take it out,” he said.

Reshetnikov suggested comparing inflation indicators not with last year’s result, but with the same indicator a month ago.

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